Tech Mahindra Ltd. Sees Decline in Stock Performance, Still Offers High Dividend Yield
On May 30, 2024, Tech Mahindra Ltd., a largecap IT software company, saw a decline of -3.04%. The stock is currently rated as 'Hold' by MarketsMojo and has underperformed the sector by -0.75%. Despite a recent downward trend, the stock's performance is still higher than the 200 day moving average and offers a high dividend yield of 3.42%. However, it has underperformed the overall market in the past day and month.
Tech Mahindra Ltd., a largecap IT software company, saw a decline of -3.04% on May 30, 2024. According to MarketsMOJO, the stock is currently rated as 'Hold'. The stock underperformed the sector by -0.75% on the same day.
In the past three days, Tech Mahindra Ltd. has been on a downward trend, with a fall of -5.63% in returns. The stock also touched an intraday low of Rs 1250.05 (-2.78%). However, it is worth noting that the stock's performance is still higher than the 200 day moving average, but lower than the 5 day, 20 day, 50 day, and 100 day moving averages.
At the current price, Tech Mahindra Ltd. offers a high dividend yield of 3.42%. This may be an attractive factor for investors looking for stable returns.
In comparison to the overall market performance, Tech Mahindra Ltd. has underperformed the Sensex by -2.73% in the past day and -0.90% in the past month. However, the Sensex itself has also seen a decline of -0.63% and -0.61% in the same time periods, respectively.
Overall, Tech Mahindra Ltd. has seen a decline in its stock performance, but it still remains a strong player in the IT software industry. Investors may want to keep an eye on the stock's performance in the coming days.
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